Sunday, May 6, 2012

Madhucon Projects' first power project takes off

HYDERABAD: Infrastructure firm Madhucon Projects (Nama Nageswara Rao, Chairman and MD) announced that its first coal-fired power project with a capacity of 150MW has commenced commercial operations from Friday.

The power project, with a total capacity of 1,920 MW to come up in three phases near Krishnapatnam in Andhra Pradesh, is being implemented by special purpose vehicle Simhapuri Energy Pvt Ltd.

The first phase of the project will have two units of 150MW each and second phase will have similar capacities. In the third phase, the company plans to have two units of 660MW each.

The company said the second unit of 150MW is expected to be operational by June, while two units of 150MW each in second phase are expected to begin operations before the year-end.

Madhucon Projects, which is into power, coal and roads with an order book of Rs 7,500 crore, has recently forayed into setting up of power projects in the overseas market.

It has on Tuesday announced signing power purchase agreement with the Indonesian government-owned power utility for a 300MW mine mouth coal fired power plant at Dawas in South Sumatra involving an investment of $410 million. The company owns three coal mines in Indonesia with estimated reserves of around 1,500 million tonne.
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